Should Russia set export quotas for sunflower oil?
Russia¡¯s agriculture ministry said last week that Moscow should set export quotas for sunflower oil to ¡°maintain the stability¡± of domestic supply. Russia is taking steps to safeguard its food market after the West imposed sanctions over the Ukraine crisis.
Will Russia ban exports of sunflower seeds?
Russia will ban exports of sunflower seeds from Friday until the end of August and impose an export quota on sunflower oil to avoid shortages and ease pressure on domestic prices, its agriculture ministry said on Thursday.
Why is sunflower production increasing in Ukraine & Russia?
Higher production in Ukraine and Russia is the leading factor for the increase. Ukrainian and Russian sunflower production estimates remain murky due to the ongoing war, but production is anticipated to be around 8% higher than 2022¡¯s.
Why is Russia importing sunflower oil & oilseeds?
¡°With sharp growth in global prices for sunflower oil and oilseeds, there is currently increased demand for the Russian product,¡± Russia¡¯s agriculture ministry said in a statement.